pilot5 Posted March 9, 2010 Report Share Posted March 9, 2010 I know everybody hates to pay insurance, the big fire we had here in Quebec almost leveled a few companies and fried 14 helicopters into piles of molten metal . Luckily we unlike some where insured through Marsh and Gcan. We where the first to get paid for our loss and we even got the personailzed service of a visit from the the underwriter much to our surprise. Even today most of the losses have not been paid, 60 days after the event, people are still waiting and this has an effect on the ability for most to replace Aircraft and carry on. This will have a negative effect on cash flow. So out of the whole experience, at least we learned who not to insure our birds with. A big thanks to Marsh and Gcan for pulling through quickly. P5 Quote Link to comment Share on other sites More sharing options...
helijoe Posted March 9, 2010 Report Share Posted March 9, 2010 you are extermely fortunate. I had a fire two years ago and marsh was the carrier. they did everything they could not to pay. took about 2 years to get the payput and we had to hire an outside adjuster to fight marsh. We won but it cost 17.55% of the payout. But without the outside adjusting firm we would of barely got half. Only one thing to remember the insurance company is there to protect their interests and maximize profits. Quote Link to comment Share on other sites More sharing options...
shakey Posted March 10, 2010 Report Share Posted March 10, 2010 you are extermely fortunate. I had a fire two years ago and marsh was the carrier. they did everything they could not to pay. took about 2 years to get the payput and we had to hire an outside adjuster to fight marsh. We won but it cost 17.55% of the payout. But without the outside adjusting firm we would of barely got half. Only one thing to remember the insurance company is there to protect their interests and maximize profits. And throw great parties at HAC on your dime. Quote Link to comment Share on other sites More sharing options...
Petit-Lion Posted March 24, 2010 Report Share Posted March 24, 2010 Fire: 11, January 2010. All the paperwork processed since weeks. Still waiting for the payment, like several others. Not sure if this is the right place, but I think it would be a good idea to start a crying topic for everybody who had to wait unusually long to get paid after a loss... Would be informative for anybody having to choose an insurer and a broker! Quote Link to comment Share on other sites More sharing options...
Petit-Lion Posted April 2, 2010 Report Share Posted April 2, 2010 The cheque finally arrived April 1st (no joke). 80 days after the fire. Amount as per policy. Insurer: Lloyd's. Broker: IMAGE. Quote Link to comment Share on other sites More sharing options...
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